Brookstone Capital Management Acquires 6,698 Shares of Colgate-Palmolive Company $CL

Brookstone Capital Management boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,137 shares of the company’s stock after acquiring an additional 6,698 shares during the quarter. Brookstone Capital Management’s holdings in Colgate-Palmolive were worth $11,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. Vanguard Group Inc. raised its position in shares of Colgate-Palmolive by 0.6% in the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the period. Deutsche Bank AG raised its position in shares of Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Colgate-Palmolive by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after purchasing an additional 177,833 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.6%

CL opened at $79.86 on Thursday. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.18. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm’s fifty day moving average price is $81.59 and its two-hundred day moving average price is $87.08. The company has a market capitalization of $64.54 billion, a P/E ratio of 22.43, a P/E/G ratio of 4.61 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.43%.

Analysts Set New Price Targets

CL has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. UBS Group lowered their price objective on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.